JAKARTA - Meme coins are a type of crypto token created based on jokes, parody, or popular phenomena. One of the rising meme coins is MAGA, which stands for the campaign slogan of former United States (US) president Donald Trump, Make America Great Again.
MAGA is a meme coin that combines political and financial elements, referred to as PoliFi' by its developers. This coin aims to create communities involved in political events involving Trump, as well as provide attractive investment opportunities for its fans.
In the past month, MAGA coins have recorded a remarkable price increase of nearly 400 percent, according to CoinGecko data. Its market capitalization has also exceeded $285 million, making it one of the largest meme coins in the crypto world.
Steven cap, marketing director of the MAGA coin project and popular YouTube talk show host, said he expects these coins to reach the same scale, market cap, and popularity as other iconic meme coins.
In a recent interview,ctional revealed its ambitious goals for the project, emphasizing its potential to bridge the world of politics, finance, and the community through the concept of PoliFi.
PoliFi is a combination of decentralized (DeFi) and political finance. We want to create a platform where people can participate in political events involving Trump, such as elections, hearings, or speeches, and get rewards from MAGA coins,.
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They added that MAGA coins also serve as a prediction market for investors, who can bet on the political results linked to Trump. The MAGA coin is very sensitive to political events. Its value will go up or down depending on what happens to Trump. For example, when Trump announced that he would run again in 2024, MAGA coins jumped to 222 percent in a week," he said.
They also compared MAGA coins with meme coins linked to President Joseph Biden, called BIDEN. According to on-chain data, the BIDEN coin has a market capitalization of only US$340,000 (Rp5.3 billion), with minimal activity compared to the growing MAGA community.
The MAGA coin is more popular than the BIDEN coin because Trump has a larger and more loyal fan base. Trump is also more often creating controversy and sensations, which make MAGA coins more attractive and profitable to investors," he continued.
phetamine emphasizes that strategic plans for the MAGA coin project are in line with the election season, leveraging events involving Trump to maintain momentum and interest.
One of the strategies carried out by the MAGA coin project is to support Trump's official non-fungible token (NFT) series, called TRUMP NFT. We are working with Trump's official team to create and promote TRUMP NFT, which features iconic images of Trump's political career. We also provide incentives for MAGA coin holders to buy TRUMP NFT, such as discounts or rewards. We hope TRUMP NFT can increase the value and popularity of MAGA coins.
They said they were optimistic about the future prospects for MAGA coins, especially ahead of the 2024 US presidential election. He also said that MAGA coins have the potential to become the first and largest political meme coins in the crypto world.
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